PP weak oscillation The lower moving average provides support

News: The capacity utilization rate of petrochemical enterprises in China this week was 91.
2, up 0.
9%
from last week.
Regionally, the Shijiazhuang refining and chemical plant in North China stopped with a small failure, and has resumed operation, and the operating rate has decreased
slightly during the cycle.
In East China, the production load of the Shanghai petrochemical plant is relatively high, and the capacity utilization rate has improved, while the plant in other regions is stable and the capacity utilization rate has not changed much
.

Raw material price: naphtha CF Japan reported 696 US dollars / ton, -0.
91%; FOB Singapore is trading at $77.
19/b, -0.
92%.

South Korea's FOB propylene price was $1080 / ton, up $10, and the domestic propylene price was 8625 yuan / ton, up 50 yuan
.

Spot prices: Southeast Asia was flat at $1260; The Far East was flat at $1255/mt
.
Domestic: North China Qilu 9150 yuan / ton, down 100 yuan; East China Sanyuan 9200 yuan / ton, down 50 yuan; South China Maoming reported 9600 yuan / ton, unchanged
.

The PP1809 contract is weak and volatile, and the lower moving average temporarily provides support
.
Fundamentally, the peak of device maintenance and the decline in social inventory obviously have some support for the futures price, but the loosening of spot prices has put certain pressure
on the price.

On the technical side, the MACD dead fork is down, the KDJ shock is lower, and the short-term trend is still weak
.
Operationally, it is recommended that investors trade
in the range of 9150-9350.